China to Start Accepting Listing Applications for New Board

China Securities Regulatory Commission (CSRC), the country's securities watchdog, said on Monday that it would start accepting applications from companies interested in listing on Shenzhen's soon-to-be-established Growth Enterprise Board (GEB) from July 26.

The CSRC also announced that firms that had already applied to be listed on the main boards of the country's stock exchanges, could choose to list on the new board instead.

The new Nasdaq-style board will focus on companies that specialize in areas such as new energy, bio-pharmaceuticals, electronics & information technology and energy-saving technologies.

The board will also welcome firms with a strong focus on innovative business models and technology and with larger market shares, the CSRC said.

According to CSRC, in the initial phase of the new board's operation, a company that applies to list on the GEB needs to be recommended by two sponsors.

Although officials from the China Securities Regulatory Commission did not reveal an exact date for the launch of the new board, media reports speculate that the GEB will open within the next three months.

Links and Sources
CSRC: 证监会公告[2009]19号
CSRC: 中国证监会新闻发言人就发布创业板申请文件准则和招股说明书准则并受理创业板发行申请答记者问
Economic Observer:
Anticipating China's Growth Enterprise Board 
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China Unveils its Growth Enterprise Board